The fiscal situation of the Commonwealth of Pennsylvania and municipalities within is incredibly precarious and bound to only get worse. In yesterday's New York Times Business Section, the abominable fiscal situation of the City of Harrisburg was featured as a clear example of what might and will happen to other local governments. Harrisburg basically defaulted on its most recent bond payment last month, being bailed out by the Governor and the State at the last minute.
There's been a lot going on lately at Penn State Hershey Medical Center, most notably a wave of new construction (including a new children's hospital underway and a recently opened rehabilitation hospital). The boom shows itself as a part of a recent stretch of Penn State history full of campaigns and expansions.
Read on for more on Hershey Medical Center's role at Penn State.
Earlier today the Pennsylvania State House of Representatives approved the state budget for the 2010-2011 fiscal year. The new $28,043,137 budget trims almost a billion dollars from Governor Ed Rendell's proposed budget of $29,029,507. The new budget is an increase of over $243 million from last year's much delayed bill. In fact, this is the first time in Ed Rendell's 8 years as governor that the state budget has been approved on time. But the big question that the Penn State faithful want to know is, how will this new budget impact Old State?
Read on to find out how much Penn State will receive...
Well, kids, now that it's just long enough for last year's Pennsylvania budget debacle to be out of current memory, it's now time again for us all to hold our collective breath for this year's potential fiasco. Penn State's appropriation hangs in the balance.
Will legislators pass the budget in time? Read on to find out...
For Penn State faculty, skies may seem a bit more blue. Last year, in an attempt to keep student tuition down, faculty were denied salary raises. With the 2010-2011 proposed budget, the university plans to end the freeze.
This year, the university is hoping to get a 3.9% increase, or around $360.9 million, in state funding. StateCollege.com cites the fact that this is one of the lowest increase requests in 50 years. While nothing is official until the board convenes in July, President Spanier believes the raises are likely.
Proposed raises are not all encompassing, rather they are based on individual merit. Assistant Director of Public Information Annemarie Mountz explains, “There is no set amount given to all employees. Some people may get a very small raise -- or even no raise at all -- while others may get a larger than average raise."
As planned, Governor Ed Rendell announced his budget proposals today for the 2010-2011 fiscal year in the Commonwealth and proposed $333.9 million in appropriations for Penn State.
This is the first of a million steps in the appropriations process for Penn State that must be taken before the university receives its funding. Over the next few months, university officials must meet with state legislators in order to come up with a final spending plan by weighing the university's costs and needs.
President Graham Spanier plans to go before the House Appropriations Committee on Feb. 23 and the Senate Appropriations Committee on March 3.
After last year's near-explosive financial dilemma, lets hope that everything gets worked out in an ordered and timely fashion, like a good fire drill.